Tag: ownership structures - joint stock company

Questions Related to ownership structures - joint stock company

Which of the following statements suits best to private limited company?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. It is owned by the government

  2. It is owned by shareholders who can sell their shares in the stock exchange

  3. It is formed for the benefit of society at large

  4. Its accounts can be kept private and it receives little coverage in the business

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Correct Option: D
Explanation:

Private limited companies is a type of company which has limited liability and offers legal protection to its share holders. The accounts of this company are kept private between the members themselves and also it receives little coverage in the business.

A Company which is employing _______ number of employees are required to have a PPF account.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. 30

  2. 25

  3. 20

  4. 35

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Correct Option: C

Which of the following statement is true?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Both private and public companies need one director

  2. Private companies need two directors but public companies need 3

  3. Private companies need one director but public companies need two

  4. Both private and public companies need two directors

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Correct Option: B
Explanation:

Minimum number of three directors is required in case of public company while two are required in case of public company and one director in case of One person company.

What is the disadvantage of a public corporation?

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. No legal entity

  2. Excessive accountability

  3. Lack of availability of managerial talent

  4. No financial autonomy

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Correct Option: B

Private corporation are owned by _______.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. private firm

  2. individual owner

  3. government & local govt

  4. none of the above

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Correct Option: C

Limited Liability Partnership form of business organization has been introduced in India by ________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Indian Companies Act, $1956$

  2. Limited Liability Partnership Act, $2008$

  3. Indian Contract Act

  4. Limited Liability Partnership Act, $2006$

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Correct Option: B

Which amongst these is NOT A disadvantage of incorporating a company _____________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. separate identify

  2. formation do expensive

  3. detailed winding up procedures

  4. co operate disclosures

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Correct Option: A

For constituting a company meeting what will be true, ____________________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. One person can never constitute a meeting.

  2. One person may constitute a meeting in exceptional circumstances

  3. Neither a nor b

  4. Both a and b.

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Correct Option: B

A company, when registered with limited liability under the Companies act. 1956 shall be deemed to be a company ________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. limited by shares

  2. limited by money

  3. limited by directors

  4. all of the above

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Correct Option: A

The position of a company secretary is like that of a hub in a bicycle wheel this statements shows the ___________________.

elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

  1. Importance of company secretary

  2. Rights of company secretary

  3. Duties of company secretary

  4. Liabilities of company secretary

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Correct Option: A